M&T Bank Corp Lowers Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

M&T Bank Corp cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,949 shares of the asset manager’s stock after selling 723 shares during the quarter. M&T Bank Corp’s holdings in T. Rowe Price Group were worth $11,868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Iron Horse Wealth Management LLC increased its position in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. bought a new stake in T. Rowe Price Group in the 2nd quarter worth about $36,000. True Wealth Design LLC purchased a new position in T. Rowe Price Group in the 3rd quarter worth about $37,000. Finally, Larson Financial Group LLC lifted its stake in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on TROW. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Evercore ISI raised their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company upped their price objective on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Barclays raised their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $117.00.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $116.12 on Friday. The stock has a market capitalization of $25.80 billion, a P/E ratio of 12.70, a PEG ratio of 1.73 and a beta of 1.42. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The business’s 50 day moving average is $117.50 and its two-hundred day moving average is $113.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the company earned $2.17 earnings per share. T. Rowe Price Group’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.